Salicylic Acid Market by Application (Pharmaceuticals, Cosmetic, Food Preservative, Others) by Region (North America, Europe, Asia-pacific, Rest of the World): Global Forecasts 2017 To 2027

Date : Jul 2021

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Report ID : 95

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Category : Specialty Chemicals

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Report Format:  PDF EXCEL PPT WORD

The Global Salicylic Acid Market was valued US$ 420 Mn in 2020 is expected to reach US$ 635.7 Mn by 2027, with a growing CAGR of 6.1% during the forecast period (2021-2027).

 Salicylic acid has a huge application is pharmaceuticals and cosmetic industry. Salicylic acid is believed to have anti-inflammatory activity, enhances the moisture in the skin and provide nourishment to the cells of the skin. Salicylic acid is widely used in hair care and skin care formulations. Increase in usage of salicylic acid in cosmetics and pharmaceutical industry and rising awareness among consumers are some of the factors that drives the growth of salicylic acid market during the forecast period.

Salicylic Acid Market Size

Further, increase in incidence of diseases like cardiovascular, rise in innovative products in hair and skin care formulations and increase in number of players in cosmetic industry accelerate the growth of salicylic acid market. Use of salicylic acid in food preservatives to enhance its shelf-life and storage also contribute in the growth of market. Moreover, growing demand for use of aspirin in the treatment of dementia and strokes, is believed to create growth opportunities for salicylic acid during the forecast period 2021-2027.

Salicylic Acid Market Segmentation:

By Application

  • Pharmaceuticals
  • Cosmetic
  • Food Preservative
  • Others

By Region

  • North America
  • Europe
  •  Asia-pacific
  •  Rest of the World

Based on application, pharmaceutical segment accounted for the highest market share in 2020 and is expected to increase during the forecast period.

On the basis of applications, salicylic acid market is segmented into pharmaceutical products, cosmetic, food preservatives, and others. Amongst them, pharmaceutical segment is expected to have the highest market share during the forecast period. Salicylic acid is one of the key ingredients used in different formulations such as pain killers. Salicylic acid is widely used in preparation of aspirin-based medicines, this gives rise to the growth of salicylic acid market in this segment. Moreover, salicylic acid is widely used in skincare products and hair care products like in serums, ointments, creams, sunscreen products etc. This pulls the growth of market in this segment.

Based on geographical region, Europe region held a market share of more than 35% in the year 2020 and is anticipated to rise more during the forecast period.

Based on region, Europe dominated the market in 2020 and it is expected to continue to maintain the lead during the forecast period. U.K, Germany, France, Italy and Spain contribute to the growth of market in this segment. Major key players are located in this region which drives the growth of market which includes Novacap, J.M Loveridge Ltd., and Alfa Aesar GmbH & Co KG. They offer huge varieties of salicylic acid-based products for industrial as well as personal applications. The market in this region is expected to grow during forecast period due to increase in number of new innovative product launch and acquisitions with the companies.

The report also provides in-depth analysis of salicylic acid dynamics such as drivers, restraints opportunities and challenges

Drivers

  • Rising Awareness Regarding Use of Salicylic Acid
  • Development in Pharmaceutical and Cosmetic industry
  • Increase in R&D Investment and Government Funding in Healthcare Sector
  • Increase in Demand for Use of Salicylic Acid in Skin and Hair Care Products

Restraints

  • Overuse of Salicylic Acid May Result in Side Effects Which Led to Increase Consumer Awareness and Use of Natural Products Over Salicylic Acid Products

Opportunities

  • Rise in Research and Development in Pharmaceutical Creates Opportunity for Players in the Market
  • Countries Like India, China, Mexico Offers Great Opportunity for Players in Development of Salicylic Acid Products

Challenges

  • Government Guidelines for the Harmful Effects of Salicylic Acid Due to Overuse of Salicylic Acid on Health

COVID-19 Impact on the Salicylic Acid Market Analysis

Covid-19 has highly affected the industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, every industry is trying to give best services in terms of quality and safety. Covid-19 outbreak has disrupted entire production and manufacturing activities due to shortage of supply of raw materials and resources. This is due to restriction on transportation facilities and lockdown of industries across the globe. Pandemic has seriously impacted the manufacturing and research & development companies due to less availability of investors in research and innovation process. Less availability of human power and disrupted supply chain has been affected due to pandemic situation. However, companies are trying to develop alternative methods and techniques to pull up the production volume and by providing services or products at affordable prices, which would help to meet the need of customer at less cost and this will help to sustain in increased pharmaceutical care and personal care product penetration.

The report also provides in-depth analysis of key trends in salicylic acid market

Sr. No. Trends Impact
1 Limited availability of man power, raw material and resources affected the manufacturing and production activities of the industries in covid-19 pandemic, this led to sudden decrease in sales of personal care and pharmaceutical care products.  Negative
2 Increasing number of players in the salicylic acid market with more advanced technology of production and rise in innovation of personal care products, boost the growth of salicylic acid market. Positive


The report also provides in-depth analysis of recent news developments and investments 

  • In August 2020, Ultra Seal Corporation decided to recall products containing pain relief of maximum strength (aspirin 250 mg, acetaminophen 250 mg and caffeine 65mg), according to USFDA report, stability testing revealed out of specification results for salicylic acid related compounds.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

    1. Alfa Aesar
    2. Alta Laboratories Ltd.
    3.  J.M. Loveridge Ltd.
    4. Siddharth Carbochem Products Ltd.
    5.  Hexion
    6.  Zhenjiang Gaopeng Pharmaceutical
    7.  Hebei Jingye Group
    8. Simco Chemicals
    9. Novocap
    10. Siddharth Carbochem Products Ltd.
    11. Bell Chem Corp.
    12. Huayin Jinqiancheng Pharmaceutical Co. Ltd.
    13. EMCO Dyestu

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Key Players Positioning Matrix
  5. Regulatory scenario
  6. Strategies Adopted-Benchmarking Heat Map
  7. Market trends
  8. Covid-19 impact analysis
  9. Product comparison
  10. Pre & Post COVID 19 impacts on Salicylic Acid Market
  11. Competitive Landscape

Frequently Asked Questions (FAQs)

Who are the key players in the salicylic acid industry?

Few key players include, but not limit up to: Alta Laboratories, J.M. Loveridge Ltd., Zhenjiang Gaopeng Pharmaceutical Co. Ltd., Hebei Jingye Group, Siddharth Carbochem Products Ltd., Novocap, Simco Chemicals, Alfa Aesar GmbH & Co KG., Shandong Xinhua Pharmaceutical Co. Ltd. and Avnochem Limited,

What is the share of Europe in salicylic acid market?

In the base year 2020, Europe accounted for more than 30% share in the salicylic acid market

What is the estimated market growth rate of salicylic acid industry?

The salicylic acid market is estimated to grow at a compound annual growth rate (CAGR) of 6.1% during 2021-2027

How big the global salicylic acid market?

The global salicylic acid market was valued at USD 420 Mn in 2020 and is anticipated to reach US$ 635.7 Mn by 2027

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1.  INTRODUCTION
    1. Product Outline
    2. What is Salicylic Acid
    3. Analysis of Salicylic Acid
    4. Covid -19 Impact
    5. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
  2. Regulatory Landscape for Salicylic Acid
    1. Regulations and Standards
  3. Salicylic Acid Market by Application
    1. Pharmaceuticals
    2. Cosmetics
    3. Food Preservative
    4.  Others
  4. Regional Analysis
    1. North America
      1. US
      2. Canada
    2. Europe
      1. Germany
      2. UK
      3. France 
      4. Spain
      5. Netherlands
      6. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. Rest Of Asia Pacific
    4. Rest of the World
  5. Key Strategic Insights
  6. New Raw Material Sources
    1. New Applications
    2. Emerging Technologies
    3. Opportunity Mapping
    4. Critical Success Factors
    5. Environmental Impact and Sustainability Issues
    6. Consumer Preferences
  7. Key Market Trends / Recent Developments
  8. Competitive Scenario
    1.  Mergers and Acquisitions
    2. Investments
    3. Joint Ventures
    4. New Product launches
    5.  Strength of product portfolio
    6.  Ranking of Key Players
    7. Presence of players by Geographies
  9. KEY GLOBAL PLAYERS
    1. Alfa Aesar
    2. Alta Laboratories Ltd.
    3.  J.M. Loveridge Ltd.
    4. Siddharth Carbochem Products Ltd.
    5.  Hexion
    6.  Zhenjiang Gaopeng Pharmaceutical
    7. Hebei Jingye Group
    8. Simco Chemicals
    9. Novocap
    10. Siddharth Carbochem Products Ltd.
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